Common use of Purchase Proceeds Clause in Contracts

Purchase Proceeds. As of the Closing Date, the City Bodies, using commercially reasonably efforts, shall have: (i) taken all action necessary and prudent to procure and expend the funds necessary to satisfy Phase 1 Purchase Price and accept transfer of Phase 1; and (ii) demonstrated that such funds shall be sufficient to satisfy Phase 1 Purchase Price.

Purchase Proceeds. As of the Closing Date, the City Bodies, using commercially reasonably efforts, shall have: (i) taken all action necessary and prudent to procure and expend the funds necessary to satisfy Phase 1 1 (A) Purchase Price and accept transfer of Phase 11(A); and (ii) demonstrated that such funds shall be sufficient to satisfy Phase 1 Purchase Price.1(A)